Luhanskteplovoz revenues decrease 42.9% yoy in 1H10
23 July 2010
Luhanskteplovoz’ (UX: LTPL UK) revenues in 1H10 totaled USD 26.5 mln, down 42.9% yoy, according to a company filing with the State Securities and Exchange Commission yesterday. The locomotive manufacturer’s net loss for the period was USD 3.5 mln, down 2.8x yoy. Yegor Samusenko: Given that Luhanskteplovoz traditionally reports most of its sales in the second half of each year, we deem 1H10 financials unrepresentative. We expect the company`s revenue to amount USD 100 mln in 2010E.
